Trump signs executive order to set up sovereign wealth fund, sparking speculation about Bitcoin investment
US President Trump signed an executive order directing the establishment of a US sovereign wealth fund managed by former Morgan Stanley banker Grimes within 12 months. The fund is mainly funded by US tariffs, which has sparked market speculation that the fund may be used to invest in Bitcoin.
US Treasury market trading volume hits record high in February
According to Crisil Coalition Greenwich, the average daily trading volume in the US Treasury market reached a record high of US$1.068 trillion in February this year, up 16% year-on-year. The surge was mainly driven by uncertainty about Trump’s tariff policy and increased market expectations for the Federal Reserve to cut interest rates.
Bitcoin is still seen as a long-term and reliable means of storing value
Noelle Acheson, author of “Crypto Is Macro Now”, said that although the current market sentiment is risk-averse, macro portfolios have reduced their allocation to crypto assets, and the capital inflows in the crypto market are extremely limited, she still believes that once the crypto market adapts to the changing economic environment, the market’s investment in cryptocurrencies will rebound quickly.
Paul Atkins is expected to serve as the chairman of the US SEC
US President Trump nominated Paul Atkins to serve as the chairman of the US Securities and Exchange Commission (SEC), and the Senate will hold a hearing on March 27 to evaluate his qualifications. Paul Atkins served as an SEC commissioner from 2002 to 2008 and is currently an attorney at Davis Polk & Wardwell. If his qualifications are confirmed, he is expected to take a more collaborative stance in regulating cryptocurrencies.
Bitcoin prices fell for four consecutive Mondays, with a cumulative drop of up to 30%
According to Coinglass data, Bitcoin prices have fallen for four consecutive Mondays, a cumulative drop of 30% from the high point in late January. In contrast, the S&P 500 fell 10% during the same period. Velo data shows that Mondays and Thursdays are usually the weakest trading days for Bitcoin, while Sundays are the days with the largest average drop, with prices falling by an average of about 1% on the day.
Two types of Bitcoin holders are dominating the crypto market
Bitwise CEO Hunter Horsley pointed out that Bitcoin holders are mainly divided into two categories: one is investors who are priced in US dollars and focus on investment returns, and the other is savers who regard Bitcoin as a long-term store of value and pay more attention to the number of Bitcoins they hold rather than their US dollar value.
